What is entrepreneur 10 definition by authors?
Definitions of Entrepreneur by Various Authors
Entrepreneurs are individuals who identify opportunities, take risks, and innovate to create new businesses or products. Different authors have provided various definitions highlighting unique aspects of entrepreneurship:
- Joseph Schumpeter: An entrepreneur is an innovator who implements change within markets through new combinations of resources, creating a "creative destruction" process that propels economic development.
- Peter Drucker: An entrepreneur is someone who always searches for change, responds to it, and exploits it as an opportunity.
- William J. Baumol: Entrepreneurs are individuals who initiate and operate new ventures, focusing on innovation and risk-taking for economic growth.
- Frank H. Knight: Entrepreneurs are risk-takers who assume the uncertainties associated with business ventures.
- Jean-Baptiste Say: An entrepreneur is an individual who combines land, labor, and capital to produce goods and services, bearing the risks involved.
- Harvey S. Firestone: Entrepreneurs are those who recognize market needs and develop solutions to meet those needs, often creating new industries.
- Harvard Business School: Entrepreneurs are individuals who initiate, design, launch, and run a new business, taking on financial risks in the hope of profit.
- Richard Cantillon: An entrepreneur is a risk-taker who engages in economic activity, balancing supply and demand to gain profit.
- Joseph A. Schumpeter: (Different from the earlier one) Entrepreneurs are agents of innovation who introduce new products, processes, or markets, leading to economic progress.
- Peter F. Drucker: Entrepreneurs are change agents who are focused on creating value through innovation and strategic management.
These definitions collectively emphasize that entrepreneurs are innovators, risk-takers, opportunity recognizers, and agents of economic change.